Topic: What can we Do to Reduce Ponzi scheme? (Read 306 times)

When it comes to frauds and scams, which ever way it would take, there is nothing anyone can do other than continual creating of awareness! To ensure the public are aware of these schemes and how they work. Most persons are just lazy to give reason to that which is set before them, they just don't wish to work and as such, they go into whatever is put before them. Even when it comes with some serious hunch or a red flag, they would give it the benefit of doubt other than investigate.

Awareness is the only thing that could limit the level of victims because, there would always be victims and the more a scheme is exposed, another is already on its way to take its place. Simple message, anything requiring referrers and operates on a pyramidal scheme is not acceptable by me.

You have to take precautions of any site you wanna get introduced to, I hardly give attention to ponzi scheme site unlike the site I was introduced on whatsapp to make investment and I would be receiving $6 per day and I could get it withdrawn anytime any day but I refuse to pay attention.
Now this is what those site does is that; they will allow you to have all the benefits and you kept introducing people after the required amount is met they will short down for site maintenance and then take race.
Be warned!

That's how people lose their money because they believe if the platform continuously pays they will not call it a scam but unfortunately all of them using this scheme is totally scam. It's just they consistently get a new investor that's why this scheme continue, but for sure in the long run we can see the same ending with those other ponzi scam so we need to be aware and better not to invest on any ponzi schemes.

The Ponzi Scheme by default is a fraud, since the scheme itself of paying old participants at the expense of investments of new participants always leads to the loss of money of those who were the last to join this scheme. No matter how long this scheme works, it always ends the same way - investors lose their money.

They are scams intended you should get your fact, can you name one project that is considered a Ponzi Scheme that is a year older, they thrive on talks and continuous flow of money, a project that does not have a product or services to offer and just rely on new money coming in to be able their old members to cash out and rely on affiliate and promotion will not last long, it's been proven and a fact.

That's right, as long as you haven't invested in a project that is suspected of being a Ponzi scheme then it's not a big problem, but for you to be able to spread it to many people to always stay away from projects that use ponzi schemes is difficult because there are still many people who are difficult to reach by internet media, besides that the method of spreading ponzi schemes is mostly word of mouth.

I have removed the red highlighted place from the link since the day when the thread was created. It has shown in my end that, the link has been removed borrow  edited but I don't know what is showing in your side now.
The old link 👇

The edited link👇
Please check the OP post now.

I have removed this link because the site looks legit but not sure, but the friend forward it to me and I thought it is Part of the Ponzi scheme but when I checked the site later, it looks authentic but really sure because I didn't involve myself in the site by registering or signing up.👇
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I have done what you asked me to do. Check my original post and confirm it. Thanks for your help and love.

I completely agree on this and that, as the OP has been told, there is nothing we can do to reduce them. Scammers and the ingenuity and greed of those who will be scammed doesn't look like it will disappear from the face of the earth any time soon.

On the other hand, we only talk about ponzi schemes in these contexts, and fail to remember or realize that, for example, pay-as-you-go pension systems are also a ponzi scheme that can only be sustained if the population continues to grow indefinitely.

Most of all turn out into scams, when the bag is full of loot from different investors and when they smell that it's time to execute the exit scam.
All comments above were right, understand the cash flow of the fund and how it will survive even without investors.  It's paying when someone investor has been recruited, the invested money will pay to a return and this circle where continue until they will found out already runaway together with investors money.

Verify always, https://who.is/whois/goldmiineng.com.

Except that they are. The idea that an investment can work without any actual means of cash flow but rather depending on investment funds is dubious and unsustainable; Any one who organizes a Ponzi scheme understand that it would be crashing at any time and would take steps to secure their loot earlier whole waiting for that.

There's a limit to how long one can recycle money among investors before the whole charade crashes.

first of all why on earth you have posted a ref link from ponzi scheme?
I hope this was a trivial error and that's it. ponzi are widespread because... there are fees for referring people

Second point, it's complete useless a site that explain "this is a ponzi" because people will continue to invest on it "since it's paying".
I have seen in the past ponzi that have existed for years and years! it's close to impossible that people will stop to invest "since it's paying".

Last but not least, economic basic is not taught at school or by anyone. if a ponzi owner has a business that allow to earn much more respect a loan from a bank why he should ask money to people on internet rewarding more? if someone doesn't feel the smell of scam in this passage, there is no site or explanation that could avoid to get caught into this sca,....

Need not worry about it, since it's quite obvious that you have an apt knowledge of their gimmicks which I observed the OP, especially as you don't even intend on investing.

N/B: not all Ponzi scheme are actually  scam intended!

Exactly like what's been buzzing on my mind since I visited this thread. The very first thing I do was clicking that link above as I thought the numbers were somewhat a fancy ref link --now I don't think it is. I've downloaded their whitepaper, haven't read them as my mind refuses to work anything harder than typing right now, but from what I can gather strolling through their site, they didn't offer a ponzi scheme. At best, it was a metaverse project doomed to wither in a month or two.

I can understand that OP probably mistook their airdrop rule as a ponzi, though. Side note: it isn't.



A little TIL for OP, ponzi will require new participants to put some money into the project and the money will be used to pay the earlier member's "bonus", it goes on and on until the last participants suffered all the losses when the platform stopped working. The perfect example is that goldmiineng site, you're required to deposit 3000 naira as a sign up fee and will be rewarded 2,000 naira for each person you referred. That 2,000 comes from the fee paid by your friend itself. While airdrop, well airdrop. You lose nothing but time --if I may add my personal opinion, you'll also lose some of your pride since you're kinda "begged" your friends to sign up for you just for pennies-- no money involved as you, as well as the people you referred to, didn't have to pay anything upfront.

I have deleted my tag on you I put that tag to warn you, so you can come back to your thread and that you need to edit your thread your explanation is sufficient, I encourage you to keep on posting sites like this and just put out the referral links because it is not allowed here and people might think that you really own that referral link like what happened on this discussion.

if I had reported it to the moderators they would delete every thread and you would have to re-post it all over again, I think it would not be beneficial to remove this post that is warning people not to use this scam site.

I realized something:


 

You know I am new to this forum, so I have not master the rules and regulations very well. I am still on the learning process. Thanks you very much for the help. But this one you helped me to correct the mistake that I did is better than reporting me. Since I am new to the forum, definitely I will make mistakes to correct myself.

RObelneo, I have not and will never promote Ponzi scheme. It was a mistake that I made of posting the person's link instead of the site. So if you notice such thing that is not deliberately posted, you can tell me to correct or edit. As it is I hate Ponzi scheme, Because people have been using Ponzi scheme to Scam their fellows every day. Please correct me like your colleagues if you notice such. Thanks

You want to fight Ponzi schemes and yet you are promoting Ponzi schemes in your thread you can get yourself tagged by promoting Ponzi scheme if you want to set a sample of a Ponzi Scheme you don't join it and promote it, this is a big conflict you must edit your thread or give us reason why it should stay and why are you part of a Ponzi scheme when you want to say you want to set up a site to fight Ponzi Scheme.

Nothing can be done but just keep warning users about it. If you have the chance to warn people on the thread or on social media platforms, do it.

You just have to warn your friend about the Ponzi he is into. He may disagree about it especially if he had already sent money to that scammer and is expecting returns. You might have to be cautiously careful when warning someone close to you because it could result in a friendship falling apart.

you need to remove all that red part that I put, in this forum it is forbidden to post reference link, I didn't report the post so correct it immediately


the only way to reduce scammers of this type is to expose sites of this type and alert people of some characteristics of some ponzi scam site and the rest is up to the person alone to think, the person needs to use the brain, no one turns money out of nothing and people need to understand this, that something like 2X guaranteed in just days or month doesn't exist, so it's a ponzi scheme

You should not be worried as long as you are not investing, the Ponzi scheme is here to stay because there are millions of newbies or noobs that believe what these Ponzi Schemes are offering, if you want to create a website to warn people about these Ponzi schemes you are doing a great deed we need more platform to warn people about investing in a wrong platform.

Did the said person make such a post on bitcointalk?

If yes, then the forum does not moderate scam. It's only DT members who tag scammers to warn other users about the kind of person they are planning to deal with.
There have been so many warning but many people still continue getting scammed  because of greed and lack of due diligence.

I really don't know whether this thread has been posted before, but I make some research here on the said topic I didn't see but other related threads were found. https://bitcointalksearch.org/topic/m.8672145

https://bitcointalksearch.org/topic/m.1708601


I am really worried on every day Ponzi scheme. A very close friend of mine was trying to lure me to register on a Ponzi Scheme and I told him that I will confirm the authenticity of the site. And I told him that the site is not legit. And I was thinking of a way to fish out this people easily by creating a website that will detect the authenticity of the site and short the site down automatically.

This is what my friend told me yesterday been the 02/04/2022. According to him.

The site name

"GOLDMINE🏆🏆"

The site 👇

https://goldmiineng.com/


Is there any way we can do to Reduce these scammers like plagiarism?